In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we will be looking at Indices strength and more Oil weakness.
US Midterm Elections
Of course, yesterday we saw the outcome of the US midterm election which saw the Trump Administration lose the house of representatives and lose the Senate. The fall out of which could prove very problematic for Trump, so I am sure there will be some very interesting events ahead of us in the coming weeks and months ahead. As a side note, Jeff Sessions, the Attorney General, has already resigned. Who is next, we wonder.
Indices
Anyway, back to the high probability trading opportunities. We can start with the S&P 500. If we see a break above yesterday’s high of 2819, we can expect a continuation to the upside. The same is true in the NASDAQ 100 market but the breakout level is 7215. Finally, for the Dow Jones that same level is 26241. In addition to the US indices, we are still looking for a continuation to the downside below yesterday’s low of 61.20. This would represent a strong opportunity lower.
Indices Strength and More Oil Weakness – Full Video Analysis
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